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Bund test MNI tech resistance

BUNDS

Germany long end continues to extend higher and testing initial resistance 176.96 61.8% retracement of the Aug 4 - 14 sell-off.

  • This is pushing the curve bull flatter, and we are seeing similar price action in the US curve, with Treasuries taking their cues from EGBs.
  • Semi core lag behind and as such Greece move wider to 3.3bps and Spain 2bps versus the German 10 year.

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